Bytes Technology Group (LON:BYIT) Sets New 52-Week Low - Should You Sell?

Bytes Technology Group plc (LON:BYIT) reached a new 52-week low on Thursday, trading at GBX 415.80 ($5.23) before closing at GBX 431.60 ($5.43). The trading volume for the day was 26,631 shares, compared to the previous closing price of GBX 434.60 ($5.46).

Recent Analyst Comments

Several analysts have recently evaluated BYIT shares. Shore Capital maintained a "buy" rating for Bytes Technology Group in their report on October 15th, while Berenberg Bank reaffirmed their "buy" rating with a target price of GBX 640 ($8.05) on the same day.

Stock Performance Overview

The 50-day simple moving average for Bytes Technology Group is currently GBX 462.26, with a 200-day simple moving average at GBX 490.70. The company's market capitalization stands at £1.03 billion, while the price-to-earnings ratio is 2,258.95. Additionally, the firm has a PEG ratio of 2.27 and a beta of 0.65, indicating lower volatility compared to the market. The debt-to-equity ratio is 3.50, with a quick ratio of 0.98 and a current ratio of 1.08.

Dividend Announcement

Bytes Technology Group recently announced a dividend of GBX 3.10 ($0.04) per share, which was paid on November 22nd. Investors on record as of November 7th were eligible for this payment, representing a yield of 0.65%. The dividend payout ratio for the company is notably high at 4,736.84%.

About Bytes Technology Group

Bytes Technology Group plc provides an array of services including software, IT security, hardware, and cloud services across the United Kingdom, Europe, and beyond. The company offers various products such as servers and laptops, as well as cloud-based and traditional licenses, and training and consulting services.

Investment Considerations

Before deciding to invest in Bytes Technology Group, it's crucial to consider the insights from top Wall Street analysts. Currently, the stock holds a "Moderate Buy" rating, but analysts have identified five other stocks that may present better investment opportunities at this time. Researching these alternatives could be beneficial before making any financial decisions.

BYIT, stocks, dividend